Trade setup for July 15: Options data indicates 25,000 as crucial support for NIFTY50; check details

NIFTY50

Max call OI:25,500

Max put OI:25,000

NIFTY50 continued to slide for the fourth consecutive day amid continued selling in IT stocks. HCL Technologies earnings also reported weak numbers with an 11% QoQ fall in the net profit for the quarter. Poor earnings growth is expected to put pressure on the NIFTY50 on Tuesday.

On technical charts, the index confirmed a bearish momentum by closing below the crucial support of 25,250. The index now looks to hold the support of 25,000 and 50 EMA levels at 25,899. Experts believe that for the index to resume its bullish momentum, it needs to hold support of 25,000.

On the options data front, 25,500 continues to hold as strong resistance with the highest open interest on the call side. On the other hand, 25,000 puts hold the highest open interest on the downside, indicating support for the current weekly expiry.

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Long buildup: Eternal

Short buildup: Tech Mahindra

Top traded futures contracts: BSE, Infy

Top traded options contracts: TCS 3,330 CE, Reliance 1,540 CE

F&O securities under ban: Glenmark, Hind Copper, RBL Bank

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